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Luckett v. Wells Fargo Bank, N.A.

United States District Court, E.D. Missouri, Eastern Division

October 30, 2014

DOMINICK LUCKETT, et al., Plaintiffs,
v.
WELLS FARGO BANK, N.A., Defendant.

MEMORANDUM AND ORDER

RONNIE L. WHITE, District Judge.

This matter is before the Court on the Defendant's Motion to Dismiss Counts I, II, III and IV (ECF No. 20). This matter is fully briefed and ready for disposition.

BACKGROUND

Plaintiffs Dominick Luckett and Trina Luckett ("Plaintiffs") allege the following facts in their First Amended Complaint (First Amended Complaint (hereinafter, "Complaint"), ECF No. 15), which the Court assumes are true for purposes of the motion to dismiss.

On October 29, 2004, Plaintiffs signed a Deed of Trust for the mortgage note with Defendant Wells Fargo, N.A. ("Defendant") for their home located at 13 Mary Ann Court in Florissant, Missouri ("the Property"). (Complaint, ¶¶ 5-6). On June 11, 2011, Plaintiffs' home was damaged when a tree fell on it. ( Id., ¶ 8). Plaintiffs filed a claim with their insurance company, State Farm Insurance. ( Id., ¶ 9). Under the State Farm replacement coverage policy, Plaintiffs' damage was estimated to by $4, 439.01. ( Id., ¶ 11). State Farm subsequently sent insurance claim checks in the amounts of $3, 100.18 and $338.83 in the name of Plaintiffs and Defendant. ( Id., ¶ 12). Defendant told Plaintiffs to endorse these checks and send them to Defendant. ( Id., ¶ 13). Defendant was then to deposit the checks into a special escrow account. ( Id., ¶ 14). In a letter dated July 5, 2011, Defendant gave Plaintiffs three (3) options to make the funds available:

1) Bring your mortgage account current and if the insurance claim check amount does not exceed $15, 000.00, please contact the Property Loss department in order for the funds held in the special escrow account to be released to you for use towards repairs of the property. * * *
2) You may select a contractor to complete the repairs. Payments will be issued payable jointly to you and your contractor for completion of the repairs. The claim will be processed based on the enclosed guidelines.
3) You may use personal funds to make repairs and provide a letter of authorization to apply claim funds to your monthly mortgage payments. If this option is selected, Wells Fargo Home Mortgage will need to receive all documents listed in the enclosed package along with verifiable paid receipts for all necessary material and labor. After our 100 percent inspection has been completed, the claim fund will be applied toward the balance due on the loan. If funds remain after the loan is contractually current, they will be released to you.

(Complaint, Exhibit A, July 5, 2011 letter, p. 1).

The July 2011 letter also stated:

TO RECEIVE YOUR FIRST RELEASE
Wells Fargo Home Mortgage must receive all of the above items, except the Certification of Completion, before processing continues. When the items have been received, a check equal to one-third of the claim check(s) received by our office will be issued to you and your contractors. If you are completing the repairs yourself, please contact our office so we can provide you with the proper guidelines.
TO RECEIVE YOUR SECOND RELEASE
When your repairs are 50 percent complete, please contact our Property Loss Department... An inspection will be required and will be ordered at the expense of Wells Fargo Home Mortgage. When the results of this inspection show that 50 percent of the repairs have been completed, a second check for one-third of the total check(s) received will be released. NOTE: ...

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